Gus Trompiz

GRAINS-Wheat eases back after surge as market weighs China demand

19 Feb 2020

* Fund flows seen fuelling support after Australia crop downgrade

GRAINS-Soybeans slips back towards six-week lows on lack of China buys

24 Jan 2020

* Soybean market waiting for Chinese sales after trade deal * Corn, wheat consolidate after demand-fuelled rally * Grain markets await weekly U.S. export data (Updates with European trading, changes byline/dateline) By Gus Trompiz and Naveen Thukral PARIS/SINGAPORE, Jan 24 Chicago soybean futures fell on Friday to hold near a six-week low, as a lack of Chinese purchases since last week's trade deal between Washington and Beijing cooled demand sentiment. Corn ticked down after climbing to a three-month high on Thursday, while wheat also eased after rallying to an 1-1/2 year high earlier this week. Both cereal markets have been buoyed by brisk overseas demand, although traders were awaiting weekly U.S. export data at 1330 GMT for a fresh indication. The most-active Chicago Board of Trade soybean contract was down 0.3% at $9.06-1/2 a bushel by 1045 GMT. In the previous session, it had touched its lowest since Dec. 13 at $9.04 a bushel, but held above the key $9 threshold. The U.S. Department of Agriculture (USDA) has not confirmed agricultural sales to China since the countries signed last week an first-stage trade agreement in which Beijing pledged to increase imports of American farm products. Soybeans are the biggest U.S. crop export to China and the oilseed market has been sensitive to developments in a trade dispute between Washington and Beijing since 2018. "Soybeans are still waiting for confirmation of purchases from China, while Brazilian harvest pressure will soon be felt," consultancy Agritel said of the soybean market. Traders see the Brazilian harvest, which is underway and expected to be record large, providing stiff competition for sales to China, particularly after Beijing turned extensively to Brazil for supplies during its tariff stand-off with Washington. Traders have also been waiting to see if China buys U.S. corn and wheat under the trade agreement, and the USDA's announcement on Thursday that private exporters sold 141,000 tonnes of U.S. corn to unknown destinations fuelled more speculation about potential Chinese demand. Corn and wheat prices, however, have already been boosted by signs of healthy demand elsewhere. CBOT wheat was down 0.6% at $5.77-1/4 a bushel, while corn was off 0.4% at $3.92. The recent rally in wheat, as well as firm corn prices in Brazil, have boosted demand prospects for U.S. corn. "Perhaps now with wheat prices more firmly established at higher levels, the relative feed costs can support higher corn prices," said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia. The International Grains Council on Thursday raised its forecast for global corn production in the 2019-20 season, driven mainly by upward revisions for China and the United States. The market's focus for corn and soybean production is on South America. Recent rains in Argentina have helped corn and soybean development during summer heat, the Buenos Aires grains exchange said on Thursday. (Reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore, Editing by Sherry Jacob-Phillips, Shailesh Kuber and Shinjini Ganguli)

Louis Dreyfus owner pledged stake to raise $1 billion Credit Suisse loan

07 Jan 2020

PARIS Margarita Louis-Dreyfus borrowed $1 billion from Credit Suisse last year to buy out minority shareholders of Louis Dreyfus Company (LDC), pledging her majority stake in the commodities trader as collateral, a company filing showed.

U.S. grain futures set for yearly rise on U.S.-China demand hopes

31 Dec 2019

PARIS/SHANGHAI Chicago wheat, corn and soybean futures were set to post annual gains after an outline U.S.-Chinese trade deal that could boost crop exports helped prices rally towards the end of the year.

GRAINS-U.S. wheat, soybeans hold firm around 1-year highs on China demand hopes

30 Dec 2019

(Updates with European trading, changes byline/dateline) By Gus Trompiz and Emily Chow PARIS/SHANGHAI, Dec 30 Chicago wheat and soybean prices rose on Monday to stay near their highest levels in over a year as traders anticipated China will expand purchases of U.S. crops under a planned trade deal with Washington. Firm physical markets for wheat around the world, supported by steady export demand, a rally in palm oil prices and dry weather in South America also lent support to Chicago futures. However, volumes were light in year-end holiday trade and traders were cautious about the strength of the price rally. The most active soybeans futures on the Chicago Board Of Trade were up 0.7% at $9.48-1/2 a bushel by 1235 GMT, close to Friday's peak of $9.50-1/2 that marked an 18-month high. CBOT wheat futures were up 1.2% at $5.62-3/4 a bushel, after earlier setting a new high since August 2018 at $5.63-1/4. Corn was unchanged on the day at $3.90 a bushel, consolidating below a near two-month top of $3.91 struck on Friday. "Grain markets remain steady to higher as traders hold out hope of a China trade deal which will boost U.S. grain exports," U.S. brokerage Allendale said in a note. China, the world's largest consumer of soybeans, and the United States struck a "phase one" trade deal this month to defuse a dispute that has disrupted massive U.S. soybean exports. The agreement includes a commitment by Beijing to increase purchases of U.S. agricultural products, although a formal text has yet to be signed. The initial agreement has also raised expectations of Chinese imports of U.S. corn and wheat, which could add to brisk international demand for wheat. Iran has in recent weeks bought around 1 million tonnes of wheat, mainly Russian, according to traders, while Chinese purchases of European Union wheat this season are also expected to reach about 1 million tonnes. Export prices in Russia, the world's biggest wheat supplier, rose for a seventh straight week last week. Grain markets were also being supported by recent dry weather in Brazil, the world's biggest soybean exporter. "After a week of widespread dryness, mixed weather (is) expected for Brazil first-crop corn and soybean areas through Jan. 8," Refinitiv Agriculture Research analysts said, noting above-average rainfall expected in the Center West, Southeast and Northeast, and below-average rainfall in Mato Grosso do Sul and the South. A near three-year high for Malaysian palm oil futures also lent support to wider oilseed markets including soybeans. Prices at 1235 GMT Last Change Pct End Ytd Pct Move 2018 Move CBOT wheat 562.75 6.50 1.17 503.25 11.82 CBOT corn 390.00 0.00 0.00 375.00 4.00 CBOT soy 948.50 7.00 0.74 895.00 5.98 Paris wheat Mar 189.50 0.50 0.26 194.50 -2.57 Paris maize Jan 168.00 2.50 1.51 175.00 -4.00 Paris rape Feb 413.50 0.75 0.18 366.00 12.98 WTI crude oil 62.10 0.38 0.62 45.41 36.75 Euro/dlr 1.12 0.00 0.12 1.1469 -2.45 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne (Reporting by Gus Trompiz in Paris and Emily Chow in Shanghai; Editing by Subhranshu Sahu and Jason Neely)

GRAINS-Soybeans steady near 18-month high on China hopes, wheat also firm

27 Dec 2019

* Market sees more soy purchases in planned U.S.-China trade deal

Commodity trader Louis Dreyfus changes finance chief in latest reshuffle

19 Dec 2019

PARIS Agricultural commodity giant Louis Dreyfus Company (LDC) named a new head of finance on Wednesday, the latest management change in the midst of a cost-cutting drive at the 168-year-old privately held firm.

UPDATE 2-Commodity trader Louis Dreyfus changes finance chief in latest reshuffle

19 Dec 2019

* Louis Dreyfus facing market, financing pressures (Adds comments from spokeswoman)

UPDATE 1-FranceAgriMer raises wheat export forecast for third month in a row

11 Dec 2019

PARIS, Dec 11 Farm office FranceAgriMer on Wednesday increased its forecast of French soft wheat exports outside the European Union this season for the third month in a row, in another sign of favourable overseas demand for the EU's biggest wheat exporter.

France to ban dozens of glyphosate weedkillers amid health risk debate

09 Dec 2019

PARIS France's health and environment agency said on Monday it was banning dozens of glyphosate-based weedkillers, most of the volume of such products sold in France, ruling there was insufficient data to exclude health risks.

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